2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Up – What’s Next?

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped up before the market opened on Monday . The stock had previously closed at $39.37, but opened at $47.56. 2x Bitcoin Strategy ETF shares last traded at $44.25, with a volume of 4,648,559 shares.

2x Bitcoin Strategy ETF Price Performance

The stock has a 50-day moving average price of $54.17 and a 200 day moving average price of $44.65.

2x Bitcoin Strategy ETF Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, December 16th were given a $0.5768 dividend. The ex-dividend date was Monday, December 16th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BITX. JBF Capital Inc. acquired a new position in shares of 2x Bitcoin Strategy ETF during the fourth quarter worth about $3,881,000. Jump Financial LLC boosted its holdings in 2x Bitcoin Strategy ETF by 8.0% in the 4th quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock worth $2,011,000 after acquiring an additional 2,862 shares during the period. Kingswood Wealth Advisors LLC lifted its position in shares of 2x Bitcoin Strategy ETF by 29.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 288,112 shares of the company’s stock worth $14,910,000 after purchasing an additional 66,398 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of 2x Bitcoin Strategy ETF in the fourth quarter valued at $171,000. Finally, Graypoint LLC grew its holdings in 2x Bitcoin Strategy ETF by 23.1% during the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after purchasing an additional 2,536 shares in the last quarter.

About 2x Bitcoin Strategy ETF

The 2x Bitcoin Strategy ETF (BITX) is an exchange-traded fund that is based on the S&P CME Bitcoin Futures Daily Roll index. The fund aims to provide 2x the daily price movements of an index based on rolling front-month CME bitcoin futures. BITX was launched on Jun 27, 2023 and is managed by Volatility Shares.